The Relationship between Corporate Social Responsibility and Corporate Financial Performance

• Main Authors: CHANG, TZU-EN, 張慈恩
• Other Authors: HUNG, YU-CHUNG
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/648k9t

碩士 === 國立中正大學 === 會計與資訊科技研究所 === 106 === In recent years, there have been many cases of environmental damage and product defects when companies have been pursuing profits. It have caused the issue of corporate social responsibility (CSR) to receive great attention. However, companies should put their limited resources into CSR when they would fulfill CSR. At this time, it would make the effect of resources crowding out. If the investment in CSR can have a positive impact on the financial performance, then for the company, the effect of resources crowding out can be understood and recognized. Thus, this study investigates the relationship between corporate social responsibility and corporate financial performance. The sample is from the firms listed in Excellence in Corporate Social Responsibility during the period from 2013 to 2017. The regression model was applied to test all hypothetic relationships proposed by this study. The research findings are as follows: first, the higher the performance of corporate governance performance of the company, the higher the return on assets. Second, the higher the performance of business promise of the company, the higher the return on assets and the return on equity. Third, the higher the performance of environmental sustainability of the company, the lower the earnings per share. Fourthly, the moderator, the size of the company, has the negatively moderating effect on both relationships between business promise and return on asset (ROA) /return on equity (ROE). Fifthly, the moderator, the size of the company, has the positive moderating effect on relationship between social participation and earnings per share. Sixthly, the moderator, the R&D expenditures of the company, has the positive moderating effect on relationship between corporate governance and earnings per share.